Tensho Electric Industries Co., Ltd. (TSE:6776) announced a private placement of 417,800 shares at a price of ¥418 per share for gross proceeds of ¥174,640,400 on August 20, 2019. The transaction has been approved by board of directors of the company. The company will raise funding through third-party allotment method. The company expects to close the transaction on September 5, 2019.